Reserve Based Lending (RBL) A type of asset-based lending (ABL) commonly used in the oil and gas sector, reserve based loans are made against, and secured by, an oil and gas field or a portfolio of undeveloped or developed and producing oil and gas assets. The amount of the loan facility available to the borrower is based on the value of the borrower's oil and gas reserves, as adjusted from time to time. The loan facility is repaid using the proceeds from sales in the field or portfolio.
From the GLR board: A bit disappointing to a delay at Kabwe with the Zinc, now Q3 2021. From Jubilee's new broker note: JUBILEE METALS Zinc and vanadium recovery – recovery via a sequenced precipitation process to remove impurities to produce a zinc oxide (ZnO – 70% Zn) for commercial sale in Zambia or abroad. The process to produce vanadium is proprietary to Jubilee with recovery on resin. Timing – Q3 2021 for zinc. Price dependent for vanadium
wasarunner, I think it will be assigned to history later this year with the advent of effective vaccines and better treatments (hospital deaths are now only 1.5% of admitted patients compared to 6% a while ago). Trouble is we'll always be more wary of the next one and the powers that be will certainly use any excuse to invoke their absolute control over us minions again.
wasarunner, everyone can't become infected as the number of people carrying antibodies would be a barrier to the virus. That's why in my view the London death's fell more rapidly than the rest of the country, their infection rate was 17%, in the rest of the country at the time it was only 5%, that has probably now caught up.
The UK suffers from an ageing population and is generally more unhealthy when compared to southern Europe added to that England is the most densely populated country in Europe, it's hardly surprising that a virulent disease thrives here.
Westie, I'd suggest that if 17% of the population had been infected, that alone would be a massive barrier against further spread of the disease and that's why it's incidence decreased in London not because of the lockdown. By locking down all the population we have prevented young and healthy people who would almost certainly be asymptomatic from being exposed to the virus and thus creating a natural barrier. What we have now is a population being 'released' from lockdown with little natural immunity and a greater probability of second wave. Protect the old and venerable by all means but to quarantine the healthy is a first in history.
A few weeks ago the Health secretary said that 17% of the London population had been infected with CV and this has probably risen since, that's 1.6M people. The death toll in London is about 6000, so the mortality rate is about 0.37%.
RE: So where do BMR / Kabwe sit in the JLP Strategy ?20 Jun 2020 13:00
Yes and if/when they (JLP) eventually start processing Kabwe waste at Sable how will BMR's share be calculated given what I've read on another board (GLR) that it is necessary to use Star Zincs high assay material to supplement our feed to make the recovery process financially viable. Glencore are still having problems with their Zambian copper ops. Isn't one of their mines still on care and maintenance?
Cheers for that Datacheck - very informative, I doubt though that processing the tailings at Kabwe alone would be loss making as the Zn and Pb contents are quite good and there is the added inducement of the V . (also the Royalties CB is expecting via BMR would be worthless otherwise.)
RE: So where do BMR / Kabwe sit in the JLP Strategy ?20 Jun 2020 10:48
CB (via BZT and GLR) appears to be on a mission to acquire African copper assets in Botswana, Namibia and Zambia and through JLP further tailings in Zambia. Wonder when/if he'll get round to using BMR as another acquisition vehicle?
RE: So where do BMR / Kabwe sit in the JLP Strategy ?20 Jun 2020 10:05
They are still reputedly going ahead with the zinc recovery loop but they do appear to be dragging their heels a bit. Don't forget Bird's, GLR have a big interest in sable to process his zinc ore. JLP RNS this week: 'I am looking forward to updating our shareholders on our zinc project as soon as we have better clarity on our ability to restart the construction of this project under current restrictions.'
It seems that JLP is now concentrating on processing Cu at he the Sable plant as seen by their latest purchase of Zambian Cu tailings. This is likely to be to the detriment of Zinc/Lead processing of the Kabwe tips and GLR's own zinc ore? Has the Zinc recovery loop at Sable now been mothballed before ever being completed?